A promissory note is a written IOU in which one party promises to pay a specific sum, often with interest, to another party by a set date or on demand. Investors care because it functions like a loan: it creates a legal claim on future cash flows, carries credit and timing risk, and can affect valuation or liquidity—think of it as a formal, tradable promise to be repaid that can be assessed like any other debt investment.
patient accounts receivablefinancial
Amounts billed by a healthcare provider for services already delivered but not yet collected from patients or their insurers; think of them as the clinic’s unpaid invoices or IOUs. They matter to investors because large or rising patient receivables can slow cash flow, increase the risk of write-offs if patients don’t pay, and signal how efficiently a provider converts billed care into actual cash, which affects profitability and financial stability.
definitive agreementfinancial
A definitive agreement is a formal, legally binding document that outlines the final terms and conditions of a deal or transaction, such as a sale or partnership. It acts like a detailed contract that confirms all parties have agreed on the key details, making the deal official. For investors, it signals that the agreement is settled and moving toward completion, providing clarity and security about the transaction.
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FRANKLIN, Tenn.--(BUSINESS WIRE)--
Community Health Systems, Inc. (NYSE: CYH) announced today that certain subsidiaries of the Company have completed the divestiture of 186-bed Regional Hospital of Scranton and 122-bed Moses Taylor Hospital in Scranton, Pennsylvania, 369-bed Wilkes-Barre General Hospital in Wilkes-Barre, Pennsylvania, and certain related businesses to affiliates of Tenor Health Foundation for $33 million of cash plus a $15 million promissory note from the buyer. Additional cash consideration may be received in one or more future periods contingent upon collections of certain patient accounts receivable during the 90-day period following the closing effective date.
The entry into the definitive agreement for this transaction was announced on October 24, 2025, and the closing was effective February 1, 2026.
About Community Health Systems, Inc.
Community Health Systems, Inc. is one of the nation’s largest healthcare companies. The Company’s affiliates are leading providers of healthcare services, developing and operating healthcare delivery systems in 34 distinct markets across 13 states. The Company’s subsidiaries own or lease 65 affiliated hospitals with more than 9,000 beds and operate more than 900 sites of care, including physician practices, urgent care centers, freestanding emergency departments, occupational medicine clinics, imaging centers, cancer centers and ambulatory surgery centers. The Company’s headquarters are located in Franklin, Tennessee, a suburb south of Nashville. Shares in Community Health Systems, Inc. are traded on the New York Stock Exchange under the symbol “CYH.” More information about the Company can be found on its website at www.chs.net.
